TOKYO 2020: Tokyo is looking to slash the price tag for the 2020 Summer Olympics by $US1.7 billion ($A1.84 billion) through scrapping or scaling back plans to build new facilities amid fears over spiralling costs.

RIO 2016: Swimmers could have their worlds spun upside down with the release of a proposed midnight finish for swimming finals at the Rio Olympic Games, while athletics finals will return to the morning for the first time since Seoul 1988.

IOC: International Olympic Committee (IOC) President Thomas Bach today revealed the 40 proposals that make up Olympic Agenda 2020, a strategic roadmap for the future of the Olympic Movement, which will be discussed and voted on by the full IOC membership at the 127th IOC Session this 8 and 9 December in Monaco.